Maximum (Absolute) momentum on drop suggests followthrough to the downside. Incomplete Elliott wave count as well as opening gap suggest that we will see another high! Waiting for followthrough to Buy The Dip!
FTSE 100 approaching trend channel resistance in a wedge pattern. S/L 7900 Target 7500
Elliott wave pattern shows an overlap between waves 1 and the current correction. Moreover wave 1 occured post a triangle breakout. This means that it is the last action of the trend of higher degree. Last but not least the drop from the all-time high looks impulsively... Hence, buckle up for more downside in Etherum! No short position entry at this point....
It remains most likely that the downturn in primary wave E° (since May 2017) is complex and not complete yet. Our arguments are time, space, and wave pattern. Usually triangles tend to retrace a substantial portion of the previous countertrend move of same degree within the triangle. The retracement looks small so far. Moreover a 6-month E° wave looks rather short...
Etherum shows a clear 5 wave pattern to the downside. It was retraced by a 3-wave zig-zag, which ended just short of the 61.8% fibonacci retracement. This is a typical level for 3nd waves to end. Moreover, wave action already cut into wave 1 of higher degree, which signals that the paramount trend to the upside finished at the recent all time high. Etherum is...
Bitcoin Cash most likely counts as a 3rd of an intermediate (C) elliottwave to the downside. Those are usually very strong. This wave action was preceded by a B-Wave, which retraced a 50% fibonacci relationship in 3-waves. It count as a double zig-zag and corrected the first part of a triangle thrust to the downside. Past month wave action puts Bitcoin Cash in...
Bitcoin is in serious trouble if it gets below the 11,025 level within the current wave. It counts then most probably as a 3rd of 3rd elliottwave. These are usually very strong. Moreover wave action is confirmed broad-based by other major cryptos.
The CAC 40 broke out of its November pivot high. This market action builds not only the stage for a French but also probably for a European rally during the next weeks! As of now, the only terminal elliott wave structure that meets the rules & guidelines is an irregular flat into primary wave 2(circle). We do not embark onto this scenario unless last weeks pivot...
We forecast followthrough to the upside in oil. Our base case scenario remains depicted in black. The red count is less likely and accommodates a potential triangle in primary wave B. Moreover it is also the count for an expanding leading diagonal off the June 2017 lows. The black count and one version of the red count does not have an extended wave as we publish...
Bitcoin Cash traced out 3 waves to the downside from its December 20th high. Right now it is in acute emergency given its longer term wave structure up until now. Followthrough of the current wave into another low means that it traced out an impulse from the Dec. 20th high. Moreover it would leave us with a completed double zig-zag pattern to the upside since the...
The 3 major US indices marked new all-time highs just after market opening. The Nasdaq 100 was the only index to record decreasing momentum into today’s top. The index hit our light blue trend channel resistance this morning. It got rejected from there. This trend goes back all the way to 2010 and tracks our primary wave 3. Moreover, Europe was struggling to make...
Typicall ending pattern at a concentration of ending patterns in the EURUSD. May need another down-up sequence until entirely complete. Shorting now with 1.2288 SL and a target of 1.145
The Nasdaq is near completion of its third wave of primary degree. This means that a big correction is around the corner before the cycle wave will eventually carry on to the upside. A trading approach will outperform in the next few years a buy-and-hold approach.
Rebound & trading near triangle support after retracing 38.8% fibonacci. Target: 1.374 SL 1.34
The Dax has most likely completed its minute degree correction yesterday. The ball is now with the bulls and we need to see some swift upside if our base case is correct. Our most probable market expectations are depicted in black. Alternatively, the Dax may take another breath and extend the correction. This is depicted in red and would imply another interim...
The correction, which began in November 2017 is most likely finished. It has cleared the road for further upside in the Eurostoxx 50. The ball is now with the bulls. We would like to see swift upside if our base case scenario is correct. It is depicted in black color.
Buy the dip and swing with the trend. SL 6518 T 6745
Red path gets invalidated if the 13,422 and 13,526 pivots get taken out. This means a target of at least 14k.